Product Analyst

Title: Product Analyst

Location: Frederick, Maryland, United States

Department: IT

Job Description:

Overview

At Banner Life Insurance Company, we lead with heart and ambition. Every day, we transform purpose into progress, guided by our unwavering commitment to be better for our customers, clients, and communities, not just today but long-term as well. Our people are the driving force behind everything we achieve. Their passion, purpose, and pursuit of innovation empower us to deliver cutting-edge solutions that support those we serve, ensuring we are here for you, here for good and striving for better.

We’re a forward-thinking company energized by our work and how we show up for one another. Our culture is built on meaningful impact and genuine enjoyment, because we believe great work and great experiences should go hand in hand.

By offering career development opportunities, comprehensive benefits, and programs that support your wellbeing, we help you thrive personally and professionally. We are here for you, here for good and here for better.

Support the Product & Transformation function in delivering digital-first, data-driven products and journeys that align with Banner Life’s business strategy. The Product Analyst provides input and insight to guide product prioritization and enable effective backlog management.

This role partners closely with Product Managers and Digital Platform Owners to translate business problems, customer needs, and performance data into actionable solutions, user stories, and measurable outcomes. The Product Analyst helps ensure product roadmaps are prioritized based on value, risk, and impact, supporting Banner Life’s goal of delivering best-in-class experiences for customers, agents, and partners.

Responsibilities

1. Support detailed quantitative and qualitative analysis on product performance, customer journeys, and market trends to identify opportunities for optimization.
2. Collect business requirements, customer feedback, and journey pain points into epics, features, and construct user stories with clear acceptance criteria.
3. Facilitate an accurate product backlog in collaboration with Product Managers and ensure continuous grooming and prioritization aligned to product roadmaps.
4. Provide analysis to Product Managers for defining OKRs and KPIs by providing data, benchmarks, and insights that inform prioritization and value realization.
5. Partner with UX/CX designers to test hypotheses, analyze results, and deliver data-backed recommendations for customer experience improvements.
6. Understand digital KPIs (adoption, NPS, funnel conversion, handle time, automation rates) and identify trends or anomalies for escalation to product leadership.
7. Document current and future state workflows, process dependencies, and integration touchpoints across systems to support business readiness.
8. Assist in risk and issue tracking, ensuring dependencies are communicated and managed across pods, products, and journeys.
9. Partner with Change & Adoption to ensure product launches are accompanied by readiness materials, training inputs, and adoption measurement.

Qualifications

Education/Knowledge:

• Bachelor’s degree or equivalent combination of education and experience in business, data analytics, or information technology.
• Foundational understanding of Agile frameworks (Scrum, SAFe) and digital product management practices.
• Familiarity with data visualization tools (Power BI, Tableau) and analytics platforms (Google Analytics, Adobe Analytics, or equivalent).

Experience:

• 2–4 years of experience in product analysis, business analysis, or digital product operations.
• 4+ years of experience in financial services, insurance, or related digital transformation environments preferred.
• Hands-on experience supporting product delivery in agile teams (writing user stories, maintaining backlogs, or analyzing customer journeys).

Skills Required:

• Strong analytical skills with ability to derive insights from data and present findings in business-friendly terms.
• Proven ability to translate business and user needs into structured requirements and acceptance criteria.
• Strong collaboration skills with ability to work across business, engineering, and design functions.
• Proficiency with Agile delivery tools (JIRA, Confluence).
• Excellent written and verbal communication skills, including stakeholder documentation and visual presentation.
• Comfortable managing multiple priorities and deadlines in a dynamic environment.
• Curiosity and drive to continuously improve processes, metrics, and delivery quality.

Travel:

• Up to 10% travel may be required

 Reports to:

• Product Manager 

Staff:

• None (individual contributor)

SUCCESS MEASURES

• Timely delivery of accurate backlog artifacts, documentation, and metrics.
• Improved product and journey KPIs (adoption, efficiency, satisfaction).
• Demonstrated contribution to value realization through data insights and analysis.
• Consistent collaboration feedback from Product, Engineering, and CX peers.